Filipinos are urged to be vigilant to check the legitimacy of an investment company before they entrust their hard-earned money to others.
FirstMetroSec Assistant Vice President and Head of Business Development & Market Education Andoy Beltran advised that a company should be registered with the Securities and Exchange Commission (SEC) in the Philippines while registered brokers are listed under the Professional Regulation Commission (PRC).
“Malalaman ninyo ang mga licensed investment companies sa website ng SEC (https://www.sec.gov.ph). Even mga rehistrado at lisensyadong tao, required po na nakalathala ang pangalan at larawan nila ng stock brokerage firm,” said Beltran during The Filipino Times Webinar titled “TFT USAPANG OFW: Saang Investment aabot ang AED 80 mo?”
He also stated that many Filipinos are victimized by scammers who only provide a promise and are usually ones who ask their investors to rush and hand over their investments in cash.
“Usually po ang mga investment scammers sila ang mga nagmamadali. Madalas po kinukuha nila in-cash yung pera. Sa mga lehitimong mutual fund managers, lahat po iyan, pinanadaan sa bangko. Importante po na meron kayong resibo para may panghawakan kayo,” said Beltran.
The “Saang Investment aabot ang AED 80 mo?” webinar helps OFWs grow their money gradually by setting aside a portion of their monthly earnings to invest, which would help them be secured financially in the long run.